Office of the Secretary, Office of Natural Resources Revenue (ONRR), Interior.
Final regulations for valuing gas produced from Indian leases, published August 10, 1999, require ONRR to determine major portion prices and notify industry by publishing the prices in the Federal Register. The regulations also require ONRR to publish a due date for industry to pay additional royalties based on the major portion prices. This notice provides major portion prices for the 12 months of calendar year 2012.
The due date to pay additional royalties based on the major portion prices is May 31, 2014.
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FOR FURTHER INFORMATION CONTACT:
Michael Curry, Manager, Denver B, Western Audit & Compliance, ONRR; telephone (303) 231-3741; fax number (303) 231-3473; email Michael.Curry@onrr.gov; or Rob Francoeur, Denver B, Team 2, Western Audit & Compliance, ONRR; telephone (303) 231-3723; fax (303) 231-3473; email Rob.Francoeur@onrr.gov. Mailing address: Office of Natural Resources Revenue, Western Audit and Compliance Management, Denver B, P.O. Box 25165, MS 62520B, Denver, Colorado 80225-0165.
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On August 10, 1999, ONRR published a final rule titled “Amendments to Gas Valuation Regulations for Indian Leases” effective January 1, 2000 (64 FR 43506). The gas valuation regulations apply to all gas production from Indian (tribal or allotted) oil and gas leases, except leases on the Osage Indian Reservation.
The regulations require ONRR to publish major portion prices for each designated area not associated with an index zone for each production month beginning January 2000, as well as the due date for additional royalty payments. See 30 CFR 1206.174(a)(4)(ii). If you owe additional royalties based on a published major portion price, you must submit to ONRR by the due date an amended Form ONRR-2014, Report of Sales and Royalty Remittance (formerly Form MMS-2014). If you do not pay the additional royalties by the due date, ONRR will bill you late payment interest under 30 CFR 1218.54. The interest will accrue from the due date until ONRR receives your payment and an amended Form ONRR-2014. The table below lists the major portion prices for all designated areas not associated with an index zone. The due date is the end of the month following 60 days after the publication date of this notice.
Gas Major Portion Prices ($/MMBtu) for Designated Areas Not Associated With an Index Zone
|ONRR-Designated areas||Jan 2012||Feb 2012||Mar 2012||Apr 2012|
|Fort Peck Reservation||5.22||5.17||5.09||4.14|
|Navajo Allotted Leases in the Navajo Reservation||3.29||2.70||2.50||2.02|
|Turtle Mountain Reservation||4.40||4.57||4.85||4.06|
|ONRR-Designated areas||May 2012||Jun 2012||Jul 2012||Aug 2012|
|Fort Peck Reservation||4.27||3.69||4.30||4.36|
|Navajo Allotted Leases in the Navajo Reservation||2.09||2.52||2.64||2.83|
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|Turtle Mountain Reservation||3.47||2.96||3.33||3.91|
|ONRR-Designated areas||Sep 2012||Oct 2012||Nov 2012||Dec 2012|
|Fort Peck Reservation||4.32||4.41||5.00||5.05|
|Navajo Allotted Leases in the Navajo Reservation||2.53||2.91||3.44||3.56|
|Turtle Mountain Reservation||3.79||3.87||4.15||4.52|
For information on how to report additional royalties due to major portion prices, please refer to our Dear Payor letter dated December 1, 1999, on the ONRR Web site at http://www.onrr.gov/ReportPay/PDFDocs/991201.pdf
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Dated: February 25, 2014.
Gregory J. Gould,
Director, Office of Natural Resources Revenue.
[FR Doc. 2014-06286 Filed 3-21-14; 8:45 am]
BILLING CODE 4310-T2-P